Read the blogs from the podcast:
- AI in Finance and Collections: Opportunities and Sticking Points
- AI in Finance and Collections: Ethics and Trends
Terry shares insights on how QUALCO uses analytics-driven fintech solutions and AI to manage non-performing loans, data analytics, and supply chain finance. Terry's stories of applying AI to business processes for enhanced efficiency and customer service are truly enlightening.
We navigate the complexities of AI - its opportunities, its challenges, and its implications on our daily dialogues. From profiling population groups through technology to integrating machine learning across businesses, our exploration of AI is thorough and thought-provoking. Terry also highlights the potential risks and rewards entwined within these AI-infused processes.
As we traverse into the realm of AI ethics and data bias, Terry provides invaluable tips on how organisations can ensure ethical AI usage. He discusses the power of AI in identifying potential conduct risk issues even before they surface and emphasises the need for quality data in AI models to bypass bias.
As we wrap up our conversation, Terry shares his views on emerging trends in data optimisation and the evolving landscape of the credit and collections industry. We hope you'll find this discussion as fascinating as we did.
"I think people can understand, is somebody in financial hardship or not? But actually, somebody's attitude to paying is very different, why somebody will or won't pay. Being able to have the ability to get into understanding that will add value. So there are definitely some scenarios where the deeper you can understand the attitudes or the behaviors of a customer, not just the cold hard facts, the more useful that will be in the way you tailor the interactions thereafter." - Terry Franklin, EVP at Qualco Technology.
Main topics discussed in this episode:
Connect with Terry Franklin: https://www.linkedin.com/in/terry-franklin-micm-08401725/
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This podcast is produced in partnership with Podlad.com
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